Could an all-mobile bank work? Luvleen Sidhu's job is to find out

“The research is undeniable that mobile is truly revolutionizing our world,” says Luvleen Sidhu, chief strategy officer, BankMobile. “However the problem is banks are slow to adopt to this trend and because of this they have lost loyal customers, especially millennials.”

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What will set BankMobile apart from “neo bank” competitors, is that it will be able to offer customers a full suite of traditional banking products, such as checking accounts and loans, says Sidhu. The hope is that millennials will be drawn to the convenience of an online service and will remain loyal customers who will come back over their lifetime for various banking needs.

“Millennials will also be inheriting the greatest amount of wealth, being children of baby boomers,” says Sidhu. “We don’t look at this as a short-term relationship but a growing long-term relationship with the millennials we bring on board today.”

Another one of Sidhu’s challenges at her new job will be handling the increased scrutiny that comes with being the daughter of the CEO.

“I know I will be watched given that relationship,” she says. “I think it's motivating me even more to give 110 percent into working hard to create the best quality product and change the banking sector.”

Plus, the Harvard graduate, who earned an MBA from the Wharton School at the University of Pennsylvania, is no stranger to working at Customers Bank. Sidhu was previously Customers’ director of corporate development before becoming a management consultant at Booz & Co. in its financial services practice. While at Customers, Sidhu introduced several growth projects, including partnering with a New York City-based startup to improve the banking experience through innovative technology.

"We are thrilled that Luvleen has chosen to fill this important role in what we view as a truly unique banking experience," Richard Ehst, Customers’ president and chief operating officer, said in June when she was hired to head BankMobile’s marketing strategy. "Her passion for success and drive to grow a business from the ground up are welcome assets as we launch this exciting new platform."